- 70% of organizations believe deepfake attacks will have a
high impact
- 73% of organizations surveyed are implementing cybersecurity
solutions to address the threat of deepfakes
- 75% of solutions being implemented to address deepfakes are
biometric solutions
- 62% worry their organization isn’t taking the threat of
deepfakes seriously enough
The risk of deepfakes is rising with almost half of
organizations (47%) having encountered a deepfake and
three-quarters of them (70%) believing deepfake attacks which are
created using generative AI tools, will have a high impact on their
organizations. Yet perceptions of AI are hopeful as two thirds of
organizations (68%) believe that while it’s impactful at creating
cybersecurity threats, more (84%) find it’s instrumental in
protecting against them. This is according to a new global survey
of technology decision-makers from iProov, a leading provider of
science-based biometric identity solutions, which also found three
quarters (75%) of solutions being implemented to address the
deepfake threat are biometric solutions.
The Good, The Bad, and The Ugly, is a global survey commissioned
by iProov that gathered the opinions of 500 technology decision
makers from the UK, US, Brazil, Australia, New Zealand and
Singapore on the threat of generative AI and deepfakes.
While organizations recognize the increased efficiencies that AI
can bring, these benefits are also enjoyed by threat technology
developers and bad actors. Almost three quarters (73%) of
organizations are implementing solutions to address the deepfake
threat but confidence is low with the study identifying an
overriding concern that not enough is being done by organizations
to combat them. More than two-thirds (62%) worry their organization
isn’t taking the threat of deepfakes seriously enough.
The survey shows recognition by organizations that the threat of
deepfakes is a real and present threat. They can be used against
people in numerous harmful ways including defamation and
reputational damage but perhaps the most quantifiable risk is in
financial fraud. Here they can be used to commit large-scale
identity fraud by impersonating individuals in order to gain
unauthorized access to systems or data, initiate financial
transactions, or deceive others into sending money on the scale of
the recent Hong Kong deepfake scam. The stark reality is that
deepfakes pose a threat to any situation where an individual needs
to verify their identity remotely but those surveyed worry that
organizations aren’t taking the threat seriously enough.
“We’ve been observing deepfakes for years but what’s changed in
the past six to twelve months is the quality and ease with which
they can be created and cause large scale destruction to
organizations and individuals alike,” said Andrew Bud, founder and
CEO, iProov. “Perhaps the most overlooked use of deepfakes is the
creation of synthetic identities which because they’re not real and
have no owner to report their theft go largely undetected while
wreaking havoc and defrauding organizations and governments of
millions of dollars.”
“And despite what some might believe, it’s now impossible for
the naked eye to detect quality deepfakes. Even though our research
reports that half of organizations surveyed have encountered a
deepfake, the likelihood is that this figure is a lot higher
because most organizations are not properly equipped to identify
deepfakes. With the rapid pace at which the threat landscape is
innovating, organizations can’t afford to ignore the resulting
attack methodologies and how facial biometrics have distinguished
themselves as the most resilient solution for remote identity
verification,” adds Andrew Bud.
Regional nuances
The study also reveals some rather nuanced perceptions of
deepfakes on the global stage. APAC (51%), European (53%), and
LATAM (53%) organizations are significantly more likely than North
American (34%) organizations to say they have encountered a
deepfake. APAC (81%), European (72%), and North American (71%)
organizations are significantly more likely than LATAM
organizations (54%) to believe deepfake attacks will have an impact
on their organization.
Amidst the ever-shifting terrain of the threat landscape, the
tactics employed to breach organizations often mirror those used in
identity fraud. Unsurprisingly, deepfakes are now tied for third
place amongst the most prevalent concerns for survey respondents
with the following order: password breaches (64%), ransomware
(63%), phishing/social engineering attacks (61%), and deepfakes
(61%) .
AI’s not all bad
There are many different types of deepfakes but they all have
one common denominator: they are created using generative-AI tools.
Organizations recognise that generative AI is innovative, secure,
reliable, and helps them to solve problems. They view it as more
ethical than unethical and believe it will have a positive impact
on the future. And they’re taking action: just 17% have failed to
increase their budget in programs that encompass the risk of AI.
Additionally, most have introduced policies on the use of new AI
tools.
Biometrics leads the charge against deepfakes
Biometrics have emerged as the solution of choice by
organizations to address the threat of deepfakes. Organizations
stated that they are most likely to use facial and fingerprint
biometrics however, the type of biometric can vary based on tasks.
For example, the study found organizations consider facial to be
the most appropriate additional mode of authentication to protect
against deepfakes for account access/log-in, personal details
account changes, and typical transactions.
Software is not Enough
It’s clear from the study that organizations view biometrics as
a specialist area of expertise with nearly all (94%) agreeing a
biometric security partner should be more than just a software
product. Organizations surveyed stated that they are looking for a
solution provider that evolves and keeps pace with the threat
landscape with continuous monitoring (80%), multi-modal biometrics
(79%), and liveness detection (77%) all featuring highly on their
requirements to adequately protect biometric solutions against
deepfakes.
Survey Methodology
The Good, The Bad, and The Ugly Survey was developed in
collaboration with Hanover Research. 500 global respondents were
recruited across industries including Banking, eCommerce, Finance
and Accounting, Healthcare/Medical, Hospitality, Insurance, Retail,
Telecommunications, and Travel. This was done via a third-party
panel provider and the survey was administered online in spring
2024. Respondents were professionals in IT, Operations, Network
Security, Cybersecurity, Digital Experience, Risk Management, or
Product Management department with primary decision-making
responsibility in the selection and purchase of cybersecurity
solutions for their organization.
About iProov
iProov provides science-based biometric identity solutions that
combine exceptional user experiences with the highest levels of
assurance. The company's Biometric Solutions Suite enables secure
and effortless remote onboarding and authentication, streamlining
both digital and physical access experiences. Backed by a unique
blend of scientific expertise, AI, and proactive threat
intelligence, iProov safeguards high-value transactions and
empowers organizations seeking innovative identity verification
that outpaces evolving threats without compromising usability. With
proven success in global deployments, iProov is a trusted partner
for governments and enterprises, including the Australian Taxation
Office, GovTech Singapore, ING, Rabobank, UBS, U.K. Home Office, UK
National Health Service (NHS), and the U.S. Department of Homeland
Security. In December 2023, Gartner listed iProov as a
representative vendor in the Innovation Insight report for
Biometric Authentication and Acuity Market Intelligence listed it
as a Luminary in the 2023 Biometric Digital Identity Prism. iProov
was also recognized as an Innovation Leader by industry analyst
KuppingerCole, Market Compass of Providers of Verified Identity
2022. For more information, please see www.iproov.com or follow on
LinkedIn or Twitter.
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version on businesswire.com: https://www.businesswire.com/news/home/20240814002433/en/
Louise Burke Global PR Manager iProov
Louise.burke@iproov.com